Market Overview: Three Sectors Lead, TASI Hits Recent High
On Tuesday, the Saudi stock market strengthened overall, with construction, real estate development, and industrial investment sectors being the main drivers of the index rise. At the close, the Saudi TASI index increased by 0.99%, reaching a relative high not seen in nearly a month.
Stock Performance: Pipeline and Tourism Stocks Surge, Mining and Paper Stocks Retreat
The top gainers of the day included East Pipes Integrated Company for Industry (1321), which soared 9.94% to 146.00; Tourism ent (4170), which rose 9.93% to 14.17; and Al Aseel (4012), which climbed 7.84% to 3.99.
On the decliners' list, Maaden (1211) fell 2.64% to 77.40; Saudi paper (2300) dropped 2.54% to 57.50; and Yamamah cement (3020) decreased by 2.07% to 27.40.
Market Breadth and External Variables: Advancers Prevail, Oil Weakens, Gold Strengthens, Exchange Rates Diverge
In terms of market breadth, 235 stocks rose, 101 fell, and 20 remained unchanged, with the overall sentiment being more positive.
Externally, both WTI and Brent crude oil prices slightly declined, while gold futures edged up; on the forex front, EUR/SAR rose, USD/SAR remained largely stable, and the US dollar index futures weakened.
